Iraq opens new oil export terminal in Persian Gulf (AP)

BAGDHAD ? Iraq has opened the taps at a new oil export terminal in the Persian Gulf in a vital step to bringing sorely needed cash for reconstruction after decades of war and international sanctions.

Oil Ministry spokesman Assem Jihad says oil exports through southern Iraq ? which currently stand at about 1.7 million barrels a day ? will be boosted by about 200,000 barrels per day beginning in March.

Jihad said the new single point mooring (SPM) was inaugurated Sunday by Prime Minister Nouri al-Maliki during a ceremony in the oil-rich province of Basra.

Iraq's total daily oil exports averaged 2.145 million barrels in December. The government relies on oil exports for 95 percent of its revenue.

Source: http://us.rd.yahoo.com/dailynews/rss/energy/*http%3A//news.yahoo.com/s/ap/20120212/ap_on_bi_ge/ml_iraq_oil

the big year breast cancer walk breast cancer walk major league major league alicia sacramone occupy chicago